GSK and Shionogi & Co., an Osaka-based bio/pharmaceutical company, have reached an agreement with Pfizer for Pfizer to sell its 11.7% stake in ViiV Healthcare, a joint venture between GSK, Pfizer, and Shionogi focused on HIV, to Shionogi.

As a result of the transaction, Shionogi will increase its economic interest in ViiV Healthcare to 21.7%. GSK will maintain its 78.3% majority-owned economic interest. Shionogi will continue to have one Director position on the ViiV Healthcare Board and will be represented by Dr. John Keller who has been a Director of ViiV Healthcare since 2012.

Under the agreement, ViiV Healthcare will issue new shares to Shionogi for consideration of $2.125 billion and cancel Pfizer’s holding in ViiV Healthcare. Pfizer will receive $1.875 billion, and GSK will receive a special dividend of $250 million. Completion of the transaction is subject to certain regulatory clearances in relevant markets, and is expected to occur during the first quarter of 2026.

Source: GSK